"Last fall Eastman completed a small capital investment to increase flakecapacity at our Tennessee Eastman manufacturing site in Kingsport," saidScott Ballard, vice president and general manager of Eastman's Fiberssegment. "With this expansion and last year's shut down of our Workington, UKacetate tow site, it is no longer necessary for Eastman to support the fixedcosts of Primester to have sufficient cellulose acetate flake capacity toreliably supply all of our tow capacity around the world, including theentirety of our Korea and China joint ventures."

Eastman will continue to supply certain services, utilities and raw materialsto Primester for Solvay's operation of the former joint venture assets. Thesale is subject to satisfaction of customary closing conditions and isexpected to close in second quarter 2016. Terms of the sale were notdisclosed.

Eastman is a global specialty chemical company that produces a broad range ofproducts found in items people use every day. With a portfolio of specialtybusinesses, Eastman works with customers to deliver innovative products andsolutions while maintaining a commitment to safety and sustainability. Itsmarket-driven approaches take advantage of world-class technology platformsand leading positions in attractive end-markets such as transportation,building and construction and consumables. Eastman focuses on creatingconsistent, superior value for all stakeholders. As a globally diversecompany, Eastman serves customers in approximately 100 countries and had 2015revenues of approximately $9.6 billion. The company is headquartered inKingsport, Tennessee, USA and employs approximately 15,000 people around theworld. For more information, visitwww.eastman.com.

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: Eastman Chemical Company via Globenewswire